In this article, I will show you step-by-step how to set up TradingView for the PowerX Strategy.

Let’s get started:

Here’s how to setup TradingView for the PowerX Strategy in 8 simple steps:

Step 1: Register for TradingView

It’s free, and if you don’t register, many of the features that I am showing you in this article won’t work.

You might even consider upgrading to the “Pro Version” for $14.95 per month. That’s the version that I have, and I think it’s well worth the price.

Step 2: Click on Full-Featured Chart

In order to add indicators to the chart and customize your layout, you need to click on Full-Featured Charts:

Step 3: Delete the Volume

I personally don’t use volume information, and it’s in the way. In order to have a clean chart, delete the volume:

Step 4: Add The RSI And Configure It

The next step is to add the indicators.

In order to add indicators…

  1. Click on the “F”
  2. Then enter “RSI” in the search field and
  3. Then select “Relative Strength Index”

Once the RSI Indicator is added to the charts, click on the gear icon to bring up the properties.

Now click on INPUT and change the LENGTH from 14 to 7.

And here’s how I select the STYLE of the indicator:

Changing the style is optional, but I like to change…

  • The Upper Band to 100
  • The Lower Band to 50 and
  • The Background to GREEN with a 20% Opacity

Step 5: Add the Stochastics

The next indicator is the Stochastics.

We can add the Stochastic in the same way as we added the RSI:

  1. Click on the “F”
  2. Then enter “Stochastic” in the search field and
  3. Then select “Stochastic”

Here’s how to configure the Stochastic:

  • Under INPUT, select 14, 3 and 3

And I like to change my STYLE settings as following:

  • Uncheck %K
  • Set the “Upper Band” to 100
  • Set the “Lower Band” to 50
  • Use GREEN for the “Background” with a 20% opacity

Step 6: Add the MACD

The next indicator is the MACD.

You can add it in the same way as we did before:

  1. Click on the “F”
  2. Then enter “MACD” in the search field and
  3. Then select “MACD”

Here’s how to configure the Stochastic:

  • Under INPUT, select 12, 26 and 9

And I like to change my STYLE settings as following:

  • Uncheck the “Histogram”
  • Change the color of the “MACD” to purple
  • Change the color of the “Signal” to orange

Step 7: Add Rockwell PowerX

The next step is to add the bar coloring so that the bars are GREEN and RED according to the PowerX Strategy:

  1. Click on the “F”
  2. Then enter “PowerX” in the search field and
  3. Then select “PowerX Strategy Bar Coloring [OFFICIAL VERSION]”

The good news: You don’t need to configure anything for this. :-)

Step 8: Save Your Chart Settings:

Your chart should now look like the chart below.

I highly recommend that you save your work:

  1. Click on the little ^ next to the GEAR icon
  2. Select a name and click on SAVE NOW

That’s it! You did it

Now you have setup TradingView for the PowerX Strategy, which — in my opinion — is the best TradingView Setup.

Hope this helps!

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.

Education feed Join Telegram

Editors’ Picks

EUR/USD stays below 0.9800 after US inflation data

EUR/USD stays below 0.9800 after US inflation data

EUR/USD continues to trade in negative territory below 0.9800 in the American session on Friday. The data from the US showed that the annual PCE inflation declined to 6.2% in August but the stronger-than-expected core reading didn't allow the pair to gain traction.

EUR/USD News

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD fell to a fresh daily low below 1.1030 but managed to reverse its direction and climbed above 1.1100 during the American trading hours on Friday. The pair remains on track to snap a two-week losing streak despite having suffered heavy losses earlier in the week.

GBP/USD News

USD/JPY struggles for a firm direction, stuck in a range around mid-144.00s

USD/JPY struggles for a firm direction, stuck in a range around mid-144.00s

USD/JPY continues with its struggle to gain any meaningful traction on the last day of the week. Retreating US bond yields drags the USD to the weekly low and acts as a headwind for the pair. The Fed-BoJ policy divergence continues to lend support to the major and favours bullish traders.

USD/JPY News

Editors’ Picks

EUR/USD stays below 0.9800 after US inflation data

EUR/USD stays below 0.9800 after US inflation data

EUR/USD continues to trade in negative territory below 0.9800 in the American session on Friday. The data from the US showed that the annual PCE inflation declined to 6.2% in August but the stronger-than-expected core reading didn't allow the pair to gain traction.

EUR/USD News

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD rebounds from daily lows, reclaims 1.1100

GBP/USD fell to a fresh daily low below 1.1030 but managed to reverse its direction and climbed above 1.1100 during the American trading hours on Friday. The pair remains on track to snap a two-week losing streak despite having suffered heavy losses earlier in the week.

GBP/USD News

Gold extends daily rally beyond $1,670

Gold extends daily rally beyond $1,670

Gold preserved its bullish momentum and rose above $1,670 after the mixed inflation data from the US on Friday. The benchmark 10-year yield is down more than 2% as markets look to wrap up the third quarter, fueling XAU/USD's daily rally. 

Gold News

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shiba Eternity download day the biggest bullish catalyst in SHIB history?

Shytoshi Kusama, the project lead for Shiba Inu, has dropped a teaser about Shiba Eternity games for the SHIB community. Proponents expect the launch of the collectible card game to be a bullish catalyst for Shiba Inu price. 

Read more

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

SPDR S&P 500 ETF Trust (SPY) Forecast: We are teetering on the brink

Equity markets remain at the precipice of a technical collapse, which we examine in the weekly long-term chart below. The overall picture remains one of nervousness ahead of the upcoming Q3 earnings season.

Read more

RECOMMENDED LESSONS

7 Ways to Avoid Forex Scams

The forex industry is recently seeing more and more scams. Here are 7 ways to avoid losing your money in such scams: Forex scams are becoming frequent. Michael Greenberg reports on luxurious expenses, including a submarine bought from the money taken from forex traders. Here’s another report of a forex fraud. So, how can we avoid falling in such forex scams?

What Are the 10 Fatal Mistakes Traders Make

Trading is exciting. Trading is hard. Trading is extremely hard. Some say that it takes more than 10,000 hours to master. Others believe that trading is the way to quick riches. They might be both wrong. What is important to know that no matter how experienced you are, mistakes will be part of the trading process.

Strategy

Money Management

Psychology